Prescriptive Analytics Tools and Data Sources
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Questions and Answers

What type of data do prescriptive analytics tools use?

  • Real-time data only
  • Big data only
  • Historical data only
  • Data from different sources (correct)

    • Which analytics category is focused on understanding the reasons behind past outcomes?

  • Prescriptive Analytics
  • Diagnostic Analytics (correct)
  • Descriptive Analytics
  • Predictive Analytics

    • What is the main focus of Descriptive Analytics?

  • Summarizing and describing current business areas (correct)
  • Forecasting the future
  • Understanding past outcomes
  • Identifying future opportunities

    • Which tool is not used in prescriptive analytics?

    <p>Descriptive tools</p> Signup and view all the answers

    What do businesses interested in Predictive Analytics aim to do?

    <p>Forecast the future and predict what will happen</p> Signup and view all the answers

    Which type of analytics would be most beneficial for a business wanting to know 'what should be done'?

    <p>Prescriptive Analytics</p> Signup and view all the answers

    What is the main focus of Descriptive Analytics?

    <p>Understanding past events</p> Signup and view all the answers

    Which type of analytics aims to answer the question 'Why did it happen'?

    <p>Diagnostic analytics</p> Signup and view all the answers

    What is the primary goal of Prescriptive Analytics?

    <p>Suggesting the best possible outcomes</p> Signup and view all the answers

    What is the role of Diagnostic Analytics in the analytics process?

    <p>Understanding reasons behind past events</p> Signup and view all the answers

    Which characteristic is associated with Volatility in data?

    <p>Durability</p> Signup and view all the answers

    In which stage of analytics is the integration of raw data from different sources a key step?

    <p>Descriptive analytics</p> Signup and view all the answers

    Which of the following is NOT a type of business analytics?

    <p>Normative Analytics</p> Signup and view all the answers

    What is the primary goal of Predictive Analytics?

    <p>To forecast the future and predict what will happen</p> Signup and view all the answers

    Which step of the OSEMN process involves finding the necessary data?

    <p>Obtain</p> Signup and view all the answers

    Which of the following is a key characteristic of Predictive Analytics?

    <p>Identifying cause-effect relationships</p> Signup and view all the answers

    Which of the following is NOT a key capability of Descriptive Analytics?

    <p>Predicting future trends and behavior</p> Signup and view all the answers

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